7.26% CAGR to be Recorded in Aviation Battery between 2022 and 2027 – 17,000+ Technavio Research Reports

NEW YORK, Jan. 30, 2024 /PRNewswire/ — The aviation battery market size is expected to grow by USD 317.81 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progressing at a CAGR of 7.26% during forecat period. It is projected that a growth of 6.78% is experienced YOY during 2023. North America will account for 31% of the growth. To find preview of the market overviews, drivers, opportunities, and potentials request a free sample report

Aviation Battery Market 2023-2027: Company Analysis

The industry is fragmented due to the presence of many global and regional players. The industry comprises category-focused, industry-focused, and diversified vendors. The global off-grid aviation battery market is expected to grow rapidly during the forecast period due to the increasing demand for air transport. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the competitive landscape and offers information on several companies. Aerolithium Aviation Batteries, Amprius Technologies Inc., BAE Systems Plc, Concorde Battery Corp., Customcells Itzehoe GmbH, EaglePicher Technologies LLC, EnerSys, GS Yuasa Corp., HBL Power Systems Ltd., MarathonNorco Aerospace, Marvel Aero International Inc., Meggitt Plc, Mid Continent Instrument Co. Inc., Northrop Grumman Systems Corp., Sion Power Corp., Teledyne Technologies Inc., Thales Group, The Boeing Co., TotalEnergies SE, and Sichuan Changhong Electric

Aerolithium Aviation Batteries: The company offers aviation batteries such as Aerolithium Lithium battery technology and experimental backup battery.

By Battery Type

A significant growth is estimated, particularly in the nickel-based batteries segment, comprising Ni-Cd and NiMH rechargeable batteries. Ni-Cd batteries, favored for their low self-discharge rate, reliability, and wide temperature range, are extensively used in aircraft applications. Vent cell Ni-Cd batteries equipped with safety features prevent damage from overcharging and discharge, though continuous temperature monitoring is essential to prevent thermal runaway, collectively propelling segment growth.

By Geography

North America will contribute 31% to the growth during the forecast period.

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Imperative Insights on the following aspects:

What was the size of the global market by value?What will be the size of the global industry in 2027?How has industry perform over last 5 years?What factor are affecting the strength of competition in the global market?What main segments make up the global industry?

Insights on various applications include

The industry showcases a diverse range of battery types including Lithium-ion, Nickel-Cadmium, and Lead-Acid, with emerging interest in Solid-State batteries. Advanced Charging Systems and Battery Management Systems ensure optimal performance, emphasizing factors such as Energy Density, Cycle Life, and Safety. Regulatory Compliance is paramount, with manufacturers catering to Commercial, Military, and General Aviation sectors, alongside Electric and Hybrid-Electric propulsion systems for Sustainable Aviation. Key trends include lightweight design, fast charging technology, and end-of-life recycling, driven by market growth drivers and technological innovations, with investments focused on improving Aviation Fuel Efficiency and mitigating Environmental Impact.

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The electric vehicle battery recycling market size is estimated to grow at a CAGR of 38.68% between 2022 and 2027 and the size is forecast to increase by USD 1,862.56 million.

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Battery Type

Segmentation by Distribution Channel

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

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SOURCE Technavio